Let's start with the assumption that $45 MM sales each year for HerpeCide is realistic. Although I have provided reasons as to why it might be significantly greater in a previous message.
The 4x P/E multiplier that is being applied is not nearly the average for revenue generating Drug or Health Care companies.
If you look up P/E ratios in Pharma (in general - http://www.investopedia.com/ask/answers/033015/what-average-pricetoearnings-ratio-drugs-sector.asp) on Investopedia, it states that as of March, 2015 the average P/E ratio in the drugs sector is about 24x. Health Care sector (in general) is >16x.
So even assuming that the gross revenue from HerpeCide is only $45 MM - and that the number of shares is still in the ballpark of 60 MM - the earnings/share would be $0.75 gross. A P/E of 16 would then give a share price of $12/share. A P/E of 24 would then give a share price of $18/share. A P/E of 100x would give a share price of $75/share,.... Not that I anticipate a P/E of 100x is likely.
Assuming that revenues from a HerpeCide are similar from all overseas sources and gross earnings = $90 MM,... then increase share prices based on that accordingly.
I suspect that the 16-24x range is a realistic one to start out once it looks like HerpeCide is ready to hit the market and start drawing in some income - but speculation could easily drive it higer.
And as the revenue from a FluCide comes into play a year or so later,.... what would happen if the gross earnings/share were to run up to $2/share,.... 24 x $2 = $48,....
Given time enough to get some products rolling out and some revenue rolling in,.... $100/share is not at all unreasonable.
“The two most powerful warriors are patience and time.”
- Leo Nikolaevich Tolstoy